If the Demand Curve of a Perfect Competitor Is Tangent

question 11

Multiple Choice

If the demand curve of a perfect competitor is tangent to (just touching) the firm's average total cost curve,

• A)the firm is definitely in the short run.
• B)the firm is probably in the short run.
• C)the firm is definitely in the long run.
• D)the firm is probably in the long run.
• E)there is no way to determine whether the firm is in the short run or the long run.

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